Why the Ethereum Ecosystem Soared on Friday
The Ethereum (CRYPTO: ETH) cryptocurrency posted big gains on Friday, accompanied by similar price increases in the supporting ecosystem. As of 3:10 p.m. ET, the Ether coin was up by 13.4% in the last 24 hours.
Wrapped Ethereum (CRYPTO: WETH) had also gained 13.4%, reflecting Ether's real-time price as expected. The reward-oriented Lido Staked Ether (CRYPTO: STETH) also rose 13.4% at the same time, once again mirroring the price and performance of the underlying Ether coin. The iShares Ethereum Trust (NASDAQ: ETHA) may be lower-priced, trading at $17.60 per share instead of $2,341 per coin, but it still follows Ether's every move.
These tightly related investment vehicles had many reasons to rise. Let's take a look at the three most important price-boosters.
Source Fool.com
